895. California bank (Oakland, CA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 1, 1907*
Location
Oakland, California (37.804, -122.271)

Metadata

Model
gpt-5-mini
Short Digest
a5438624

Response Measures

None

Description

The California bank in Oakland is described throughout as 'defunct' with a receiver (James P. Edoff) appointed and extensive civil suits alleging embezzlement and maladministration. There is no mention of depositor runs or heavy withdrawals in the provided articles. The bank remained closed and in receivership with ongoing liquidation/dividend payments, so this is a suspension leading to closure/receivership. Date of receivership/closure is early 1908 (receiver active by Jan–Feb 1908).

Events (3)
1. December 1, 1907* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed following maladministration, alleged embezzlement, overdrafts and improper loans involving former president D. Edward Collins and others; insolvency of affiliated firm and large bad loans cited as causes.
Newspaper Excerpt
the bank closed its doors
Source
newspapers
2. January 19, 1908 Receivership
Newspaper Excerpt
when it became known that a receiver would be appointed for the California bank; a clean, capable man was appointed receiver... Receiver James P. Edoff of the California bank ... filed notice of a $51,000 dividend for the depositors of the institution (Feb. 4).
Source
newspapers
3. February 4, 1908 Other
Newspaper Excerpt
filed notice of a $51,000 dividend for the depositors of the institution. This is about a 5 per cent dividend.
Source
newspapers

Newspaper Articles (11)
1. January 20, 1908 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, January 20, 1908

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Denounces Alameda's Courthouse Ring Rev. Charles R. Brown Predicts Early Downfall of Clique of Grafters OAKLAND, Jan. 19.-In a denunciation of the county courthouse gang tonight Rev. Charles R. Brown, pastor of the First Congregational church and one of the most prominent divines on the Pacific coast, excoriated the methods of the politicians who dominate the county government and predicted the early downfall of the entire crew of parasitical wasters of the people's money. Rev. Mr. Brown said that the condition of county administrative affairs was rotten; that for years this had been known. He disclosed the attempt of the political ring to obtain control 02 the receivership of the California bank and its failure to accomplish this purpose. His scorching remarks were delivered in the course of a sermon on the theme "The Call to Wider Service." Concerning county governmental affairs he said: "For years it has been well known that the condition of the county government would smell to heaven if the lid were taken off. Recently, when it became known that a receiver would be appointed for the California bank, the politicians exerted every effort. to have one of their kind appointed. Their dirty paws itched to get control of that institution and to administer its affairs. "It might have been well had they succeeded, for if they had the depositors of that bank and the depositors of every other bank here would have risen the sooner and pitched out the entire elique, as inevitably it will be pitched out. A clean, capable man was appointed receiver in spite of the efforts of the ring, one who will brook no interference from the county government ring or from any ring that would prevent the proper administration of the affairs of the bank: Any such attempt would be answered with language that might not look well, but which would be beautifully appropriate and which even those people could not fail to understand as decisive and final." He said that he was a depositor in the California bank, along with what he termed "3,000 other unfortunates." The inference from the clergyman's remarks was that he had been advised of the attempt to put a courthouse politician in the receivership. Rev. Mr. Brown urged his hearers to combat graft, greed and selfishness in any form in which they might be presented. The large church auditorium was crowded and the pastor's straight from the shoulder utterances caused a perceptible stir in the congregation.

2. February 1, 1908 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, February 1, 1908

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Misappropriation and Overdraft Also Laid at Door of De= posed Banker Civil Action Is Brought by One Group of the Investors Against Others Brother of Church Worker Also Included in Sweeping Allegations OAKLAND, Jan. 31.-D. Edward Collins, church worker, trustee of charity funds and deposed president California bank, brother, John D. of the Collins, with has been his accused of embezzlement and misappropriation of bank funds, of overdrawing his personal account and of to companies a stock holder proper lending he was money without of which securities, in a suit to recover $246,592 filed today by a group of East Oakland depositors and stock holders of the bank against John W. Phillips, J.B. Richardson, Benjamin Smith and James P. Taylor, directors of the bank at the time it closed its doors. Collins' name was not included among the direct defendants in the suit, because he has no property which could be levied upon in event an action against him were successful. The proceeding to recover the money is purely a civil suit against persons alleged to be legally responsible for the maladministration of the bank's affairs, although they may have had no part in questionable transactions. The plaintiffs in the action are S. S. Austin. J. Y. Miller, James Moir, James Rutherford, Kate Keay and John Orchison. SUE TO RECOVER FUNDS Austin claimed to have $1,581 on deposit in the bank, J. Y. Miller is the of 20 shares of capital stock, owner shares and the others are owners of 10 each. They sued to recover their various investments for themselves, and also for the balance of the $246,592 to be divided pro rata among the creditors of the concern. The moneys charged as embezzled were and misappropriated used said 1906, to have been between October 1, and November 29 of last year. Loans aggregating $35,000 were said to have been made to D. Edward Collins October 1, 1906, without proper security, and prior to the bank's closing its doors he was said to have overdrawn his cheeking account by $11,101. On five dates between January 8. 1907, and August 19 of the same year, the complaint alleged that the firm of William Collins Sons, composed of D. Edward Collins and his brother, John P. Colline, borrowed $100,000 without proper security. The same partnership was said to have overdrawn its account at bank by William Collins & was the the firm California of $71,341 Sons The owner of the Ventura bank, and during the investigation of the California bank's affairs this loan was said to have been directly the cause of the failure. SAY COLLINS EMBEZZLED Collins was said to own 7,000 shares, valued at $14,000. in the Northwestern construction company, and this concern overdrew its account at the Callfornia bank by $7,149, it was alleged. without security, $40,000, were Loans, totaling practically according made to to this the company June 7, 1907, complaint, and Collins was charget with embezzling this amount. It was said that 60 shares of the Ventura associates and 5,000 shares in the Central brick company, an alleged in solvent concern, were given as security for the $40,000. That the banking firm of William Collins & Sons had long been insolvent also was set forth in the complaint. The plaintiffs asked to have the court a return of the amounts they had and deposited, and order invested holders the inter ests of such other stock as to join were included in a para toward the close. The court was cared graph credalso petitioned to divide among itors the remainder of the $264,593 after satisfying the claims of the plaintiffs in the suit. The document was prepared by Attorney Lloyd Robbins of San Francisco. James P. Edoff, who was recently receiver of the bank by Su Judge Harris, appointed perior said today RECEIVER'S STATEMENT "I know nothing of this suit, though I may be drawn into it later. These amounts and transactions seem to be correct so far as I can learn at presI will say, however, that from of my am the ent. extent investigations there has I not yet able to that been embezzlement committed, but I won't I am sure I will not discover say that embezzlement. that there has been "A peculiar feature of this suit lies Continued on Page 2, Bottom Column 2

3. February 5, 1908 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, February 5, 1908

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Bank Declares Dividend OAKLAND, Feb. 4.-J. P. Edoff, receiver of the defunct California bank, late this afternoon filed notice of a $51,000 dividend for the depositors of the institution. This is about a 5 per cent dividend.

4. March 8, 1908 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, March 8, 1908

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PERMITS RECEIVER TO OFFSET MATURED NOTES Affects Paper Held by the Bank Against Persons With Cash on Deposit OAKLAND, March 7.-A decision given by Superior Judge Harris today permitted Receiver James P. Edoff of the California bank to offset matured notes held by the bank against persons having cash on deposit in the bank prior to the time of the closing of its doors. Such deposits may be credited against the amounts of the notes, according to the decision, and. in cases where the deposit is not sufficient to pay the note the payee is responsible for the remainder. The decision was given during the consideration of a petition by Edoff to offset $6,000 worth of notes by cash on deposit. The decision does not affect notes secured by collateral or by mortgages, as Judge Harris intends taking up consideration of this feature in two weeks.

5. March 13, 1908 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, March 13, 1908

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CALIFORNIA BANK MEN TO GO FREE Grand Jury Fails to Return In= dictments and the Belief Is There Will Be None Lack of Evidence of Criminal Intent or Negligence by Officers Is Reason OAKLAND, March 12.-That no indictments will be found against the officials of the defunct California bank by the grand jury was the prevalent opinion today in the corridors of the county courthouse, after the second all day session had been passed in investigation of the affairs of the closed bank. The opinion was based on the conviction that it would be impossible to show that there had been criminal negligence by the former officials or to prove that fraud had been intended in any of the transactions. All the technical information which Receiver James P. Edoff had gathered since his appointment was laid before the members of the grand jury this morning, and Edoff spent nearly two hours answering qustions. Edoff has repeatedly said that he had never found direct evidence that there had been willful misappropriation of funds. F. H. Brooks, cashier: G. L. Dowling, a clerk under the former regime, and William Rutherford, J. B. Richardson, J. M. Phillips and Benjamin Smith, former directors, were also witnesses. Lloyd Robbins, attorney for a group of East Oakland depositors and stock holders who joined in a suit to recover $264,000 from the directors of the bank, remained for a short time during the day, but was not called upon to testify. D. Edward Collins. who refused to testify at the previous hearing on advice of his attorney, was not present today. The examination of witnesses was conducted by Chief Deputy District Attorney Donahue. Receiver James P. Edoff of the California bank will file reports of numerous settlements which he has made with debtors of the bank for the approval of Superior Judge Harris tomorrow afternoon. Edoff intimated that the reports will deal with transactions of magnitude and that their approval will result in a long step toward winding up the affairs of the institution. Edoff said he has been surprised at the comparative ease with which accounts are settled, indicating that the general financial condition on this side the bay is excellent. Six releases of mortgages held on Berkeley property were authorized by him today.

6. April 25, 1908 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, April 25, 1908

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SPURNS HAND OF BANKER COLLINS OAKLAND, April 24.-Receiver James P. Edoff of the California bank refused to shake the hand of D. Edward Collins, former president of the institution. in Superior Judge Harris' court today, during the hearing of a recommendation by Edoff that the court reject a settlement of claims against the bank of Ventura, which Collins, as an influential member of both institutions, had had ratified before Edoff's appointment. The coldness which Edoff exhibited had apparently no effect on Collins, as he passed the incident lightly and retained his equanimity. Collins was placed on the witness stand and was questioned regarding an indebtedness of $171,341 which the Ventura branch had contracted in its relations with the California bank. He went over the list of securities which had been offered in settlement and which the old directorate of the California bank had accepted. The securities were 801 shares of the California bank capital stock, 5.000 shares of the stock of the Central brick company, real estate at the northeast corner of Thirteenth and Webster streets and a ranch in Glenn county. Edoff said the real estate was worth about $2,000, but that the securities were worthless. Officials and members of the directorate who were examined were Orestes Orr, John C. Lynch, J. W. Phillips, J. H. Richardson, James P. Taylor, J. H. Brooks and C. L. Downey. All admitted that they had access to the books of the bank in December, when the alleged agreement was made. Edoff testified that the agreement would realize not more than 15 cents on the dollar and he recommended that Judge Harris empower him to set it aside and to proceed against the Ventura corporation as in any other case of collection. Judge Harris took the matter under advisement.

7. January 8, 1909 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, January 8, 1909

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Suburban Brevities EAGLES INSTALL OFFICERS San Mateo, Jan. 7.-The local lodge of Eagles have installed the following officers. the ceremonies being followed by an elaborate banquet prepared by one of the chefs of the order: J. A. Trowbridge, past president: John Flynn. president; Ray Knight, vice president: Henry Pulver, chaplain; J. Burke, secretary: J. Chanteloup, treasurer; I. Gilligan, inside guard; Charles Jack. outside guard; H. N. Royden, H. Putten and John M. Burke, trustees. BANK RECEIVER -Oakland, Jan. 7. Four suits for the recovery of money alleged to be due on promissory notes were filed today by Receiver James P. Edoff of the California bank. The defendants and the amount sought were: Edward Y. Gibson. $6,500; S. D. Needham, $593; William E., Catherine M., Joseph and A. V. Graves, $960; Nevada finance company, $250. THIEVES STEAL CLOTHING Qakland, Jan. 7--A quantity of clothing which was awaiting repair work at the Key Route cleaning works, 669 Twenty-second street, was stolen by burglars last night. the thieves getting into the place with a false key. Michael W. Barriett of Eighth and Franklin streets and Peter Lyhne of 836 Broadway reported the theft of clothing. VEXATIOUS GARBAGE QUESTIONBerkeley. Jan. 7.-Whether Oakland and Berkeley will join in the disposal of garbage by joint agreement will be determined tomorrow afternoon, when Mayor Francis Ferrier, F. Q. Turner (superintendent of streets) and Town Engineer W. F. McClure will hold a conference with Mayor Mott in Oakland. NATIONAL UNION INSTALLS - Berkeley, Jan. T.-Officers of Berkeley council No. 808. National union, were installed at Native Sons hall tonight as follows: President, F. M. Blair; vice president, Judge Robert Edgar: speaker, A. P. Davies: treasurer, James F. Hill; recording secretary, M. J. Tobin: financial secretary, E. V. Grove. SUMMONED TO MOTHER'S BEDSIDE Berkcley, Jan. -Miss Ethel Hampton, who courageously fought the Frisleben brothers, eaught in the act of stealing towels from the home of her aunt a month ago, has been summoned to San Diego, where her mother is said to be very ill. FOUND GUILTY OF ASSAULT-Oakland, Jan. i-A verdict of assault with a deadly weapon was returned by a jury against Peter Ferroni in Judge Ogden's court today. Ferroni stabbed Peter Mecchi through the arm with a large carving knife in a dispute over money. AGED BERKELEYAN DIES-Berkeley, Jan. After an Illness of two months Josephine, the wife of William Dean, died last night at her home, Seventh street and Bancroft way. at the age of 70 years. She had been a resident of West Berkeley for 30 years. STUDENTS RETURNING Menlo Park, Jan. L-Sixty of the students at St. Patrick's seminary have already returned to their college preparatory to the opening of the spring term on next Monday. EAGLES TO INSTALL OFFICERS Alameda, Jan. 7.-Alameda aerie of Eagles will install ofBeers next Thursday night.

8. January 21, 1909 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, January 21, 1909

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RECEIVER SUES ON MORTGAGE OAKLAND, Jan. 20.-Receiver James P. Edoff of the California bank sued the Land and Development company today for $23,000 alleged to be due on a promissory note given June 9, 1907. The note was secured by a mortgage on property located at Park and San Pablo avenues, Emeryville.

9. May 6, 1909 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, May 6, 1909

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FIFTY PER CENT HAS BEEN RECEIVED BY DEPOSITORS Affairs of California Bank May Be Wound Up by 1911 OAKLAND, May 5.-Depositors and creditors of the defunct California bank have received 50 per cent of their claims, according to the fifteenth report of Receiver James P. Edoff, filed with the superior court today. The report showed that liabilities had been reduced by $47,017.32 during the month of April, making a total reduction of $584,943.87 since Edoff's appointment. He estimated that the total payments would amount to 75 or 80 per cent of the liabilities and that the affairs of the bank might be wound up by 1911.

10. March 5, 1910 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, March 5, 1910

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Suburban Brevities DDD FELLOWS BANQUET-Oakland. March 4. Golden Rule encampment, I. O. O. F.. of this city celebrated the fortietb anniversary of its organization with a banquet tonight to memhers of Unity encampment of San Francisco. $TRUCK BY CAR -Oakland, March 4.-James Chulos of 1715 Goss street, driver of a bakery wagon. was struck by an electric ear in Tweifth street this morning and badly bruised. PARISH TO ENTERTAIN - -Berkeley, March 4. Members of the new St. Ambrose parish of West Berkeley and Albany plan a social entertainment for St. Patrick's day. HEADS ABSTRACT COMPANY-Oakland, - March 4.-James P. Edoff, receiver of the defunct California bank. was elected president of the Oakland title and abstract company today. INSTALLING BLOCK SYSTEM-Alameda. March 4. -The Oakland traction company is installing a block system on its San Jose avenue line west of Park street. WOMEN WILL SPEAK-Alameda, March 4.Women speakers from the Adeipbian club will address the pupils of the Various public schools at the arbor day exercises to be held next Monday morning. WILL TRY SWITCHBACK Oakland, March 4. Representatives of the Oakland traction company notified the city council last night that the company would experiment with a switchback in Broadway near the business center, rather than put in the suggested loop along Eighth. Franklin and Ninth streets, to relieve the congestion of traffic at Broadway and Seventh street.

11. December 25, 1910 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, December 25, 1910

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RECEIVER EDOFF'S BOND REDUCED TO $30,000 California Bank Depositors Will Receive 80 Per Cent OAKLAND, Dec. 24.-On the testimony that the dividends paid had greatly reduced the assets, the bond of J. P. Edoff, receiver of the California bank, was decreased today by Superior Judge Harris, from $50,000 to $30,000 today. It was shown that through Edoff's management the liabilities of the defunct institution had been so ably handled that the depositors will receive 80 per cent when the affairs are cleared up.